Filing Flows › Danaher (DHR) › Q1 2026
Danaher (DHR) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 21, 2026
Danaher (DHR) reported revenue of $6.0B for the first quarter 2026 (Q1 2026), +4% from a year earlier and -13% from the quarter before. Operating margin was 22.6%, net earnings $1.0B (17.3% of revenue).
Danaher, Q1 2026: revenue $6.0B (+4% year over year), operating margin 22.6%, net earnings $1.0B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0B | -13% | +4% |
| Gross profit | $3.6B | -9% | +2% |
| Operating profit | $1.3B | -11% | +5% |
| Net earnings | $1.0B | -14% | +8% |
| Operating cash flow | $1.3B | -38% | +2% |
| Free cash flow | $1.1B | -38% | +3% |
What changed
Revenue was $6.0B in Q1 2026, up 4% year over year and down 13% from the previous quarter. Recurring revenue was the largest line at 85% of revenue. Recurring revenue added $0.21B year over year (up 4%), 102% of the total change. Nonrecurring revenue declined 1%.
Gross margin was 60.3%, down 0.8 points from Q1 2025. Operating profit was $1.3B, a 22.6% margin (up 0.4 points year over year). Of the extra revenue versus Q1 2025, 33% reached operating profit, above the 22% margin then. Operating expenses grew 0% against revenue growth of 4%. Net earnings were $1.0B, up 8% year over year. The effective tax rate was 16.7%.
Operating cash flow was $1.3B (up 2% year over year), 128% of net earnings. Non-cash charges added back $0.63B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.39B. Capital expenditures of $0.24B left free cash flow of $1.1B.
Questions
What was Danaher's revenue in the first quarter 2026?
Danaher (DHR) reported revenue of $6.0B for the first quarter 2026 (Q1 2026), +4% from a year earlier and -13% from the quarter before.
Was Danaher profitable in the first quarter 2026?
Operating profit was $1.3B (22.6% of revenue) and net earnings $1.0B.
Source: Danaher 10-Q on SEC EDGAR.